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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #92,601
  • Mar 30, 2011 2:14pm Mar 30, 2011 2:14pm
Two apealing steups tough i like Eur/Chf more ... both have nice confluence with BRN and strong PPZ ... will see how they work out
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  • #92,602
  • Mar 30, 2011 2:59pm Mar 30, 2011 2:59pm
Quoting FxPrelude
Two apealing steups tough i like Eur/Chf more ... both have nice confluence with BRN and strong PPZ ... will see how they work out
I too like the EUR more, and it's the only one of the two that's been rejected from BRN.

Your FTA though, I think, is a little closer than you have marked. It doesn't look terribly strong, but it's there nonetheless

Edit: I'm already on a chf long trade, and that's enough for me for now
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  • #92,603
  • Mar 30, 2011 4:03pm Mar 30, 2011 4:03pm
Quoting Dan-FX
Still a day to go but would you consider this monthly bar bearish PA? I know it doesn't meet pb criteria and I don't really know about IPB but to me it seems like a rejection of parity. Your thoughts?
Hey Dan

How are ya bud.

I don't trade IPB, but that would fit the criteria. I personally look at it as a nothing bar more or less, and would be waiting for more info( monthly perspective at least)

Best
Mike
  • #92,604
  • Mar 30, 2011 4:07pm Mar 30, 2011 4:07pm
Quoting Dan-FX
Has anyone covered this yet?

For: possible close beneath .92 and HCR, 38.2 fib
Against: 2 bars prior to pb, would have liked tail closer to .93

I think also .9167 might cause a problem? With safety and take profit at .91

https://lh5.googleusercontent.com/_T...f-daily-pb.png
Agree with everything here....that said here is my short order on the pair. If trade triggers and makes the trouble area around 9120, I plan to reduce risk to above the LCS /RN and give it some room. Also, last week's bar closed as .9200, so the HCR you marked is also a weekly HCR.

I also wouldn't be surprised with a retrace back to .9230 area, so I am actually going to demo this as a retrace as well.
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  • #92,605
  • Edited 4:36pm Mar 30, 2011 4:24pm | Edited 4:36pm
IMHO,

EUR/CAD lovely story but traffic above would be nicer with a better close.

CAD/CHF like this one but I dont like the close of the bar, my FTA will be around 0.9365

USD/CHF im on this one via the 4hr BEOB that closed below 0.92, FTA 0.9140, on the daily we have a nice story, we can see price got rejected of 0.92300 ppz

I think EUR/CAD could be a runner as price closed above 1.37 went up and it seems its gonna retest the area and go up again.

In EUR/CAD could a so so candle (due to the close) be a good trade due to the story of it ?

My 2 cents.
Os.
Trade Smart
  • #92,606
  • Mar 30, 2011 5:01pm Mar 30, 2011 5:01pm
Quoting Adilius07
Hi Pinbar, nice to see you!
Hope all is well, are you in China now?

Hi, Adi

Yes, we are in China now.

The language is much harder to learn than Japanese though.
That said after ten 10 days, I can speak a little.
  • #92,607
  • Mar 30, 2011 6:13pm Mar 30, 2011 6:13pm
Quoting aserbfx
psmt is a real underperformer so far . only +4% in 2.5 days. pheww, that stinks.
Aser,

Hitting some resistance here (see chart)
Thanks for pointing out this trade, it wasn't on my radar!

I'm taking some profit here and moving my stop up.

http://4.bp.blogspot.com/-A08vLMpJN2...%2B3-30-11.png
  • #92,608
  • Mar 30, 2011 6:21pm Mar 30, 2011 6:21pm
Quoting Pinbar
Hi, Adi

Yes, we are in China now.

The language is much harder to learn than Japanese though.
That said after ten 10 days, I can speak a little.
Hey Steve,

Hope everything is going well in China.

Speak chinese in 10 days ? woww men thats awesome !! im sure in 2 months ull be able to hold a conversation.

Did u got the job at the uni ?

Take care.
Os.
Trade Smart
  • #92,609
  • Edited 10:50pm Mar 30, 2011 8:18pm | Edited 10:50pm
Quoting Pinbar
Hi, Adi
Yes, we are in China now.
The language is much harder to learn than Japanese though.
That said after 10 days, I can speak a little.
10 days? wow, that's impressive.
Fukien or Mandarin?

u really are a global man.

Big friendly advice:
avoid residing in areas highly prone to earthquakes & which have nuclear power plants nearby.
the world is a terrible place to live in now.
  • #92,610
  • Mar 30, 2011 8:20pm Mar 30, 2011 8:20pm
Ifmyante - keep up the great charts and posts on RT entries. Would love to have ideas on how to enter on the retrace after Daily OBs based on PA of 4-hour candles.
  • #92,611
  • Mar 30, 2011 11:29pm Mar 30, 2011 11:29pm
Quoting Osman
Hey Steve,

Hope everything is going well in China.

Speak chinese in 10 days ? woww men thats awesome !! im sure in 2 months ull be able to hold a conversation.

Did u got the job at the uni ?

Take care.
Os.

OS & SC.

It is Mandarin

I can speak enough to make myself understood but that is about all, right now.

Still, it is sinking in. I think being bilingual before coming here helps.
They always say a third language is easier to learn than the second one.

The uni job is on the cards and strings are being pulled.

I heard that the Tokyo power company plants in Fukushima got inspected last year and were deemed not to be fit for use.
then they dragged in another group of inspectors and the plants were suddenly deemed fit for another 30 years of use.
Obviously they got paid off big time along with LDP party members who were in charge of government at that time.


While we are at it, any thoughts on a pullback to the TL on Eur/Cad?

Looks like a nice area to wait for some decent PA.
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  • #92,612
  • Edited Mar 31, 2011 12:42am Mar 30, 2011 11:32pm | Edited Mar 31, 2011 12:42am
Quoting plund
Here is one again.

Attachment

pat
I'm in after some doubt on this one on the break of that buob. Weak close on that buob, but I liked the fact that it did engulf most of that range and closed above. Comments appreciated.

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EDIT: Closed it for 25 pips
  • #92,613
  • Mar 30, 2011 11:37pm Mar 30, 2011 11:37pm
Hi everybody,
Currently watching the 4H inverted pinbar on AUD/USD
Have a nice day.
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  • #92,614
  • Mar 30, 2011 11:47pm Mar 30, 2011 11:47pm
Quoting Adilius07
Good news to Oanda users!
Oanda now has H4 and H8 on their web platform!
Yes, a few improvements over at Oanda recently. I suddenly saw the 10min, 4h, and 8h appear - good additions in my view. As well, they now allow MT4 accounts.

I prefer trading with Oanda because I can easily amend lot size to meet my r/r ratio exactly, easy to place/move sl/tp etc among other things, although I use MT4 (now through Oanda) for charting purposes.

X.
Return on Equity: 2017, 32.4%; 2018; 8.0%, 2019 (30Apr), 4.5%
  • #92,615
  • Mar 31, 2011 12:03am Mar 31, 2011 12:03am
There was really good opportunity to enter the EurCad long yesterday. Price was at the daily/weekly flip zone area. What James16 is doing, is looking for a better entries at this kind of areas which can be found on lower timeframes sometimes. In this example price is making h1 pb and buob after the breakout which is very good signal for entry. H1 tf in opposition to H4 has always the same bar shape across every broker hence everybody are looking at the same thing....Thats something to think about....
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  • #92,616
  • Mar 31, 2011 12:05am Mar 31, 2011 12:05am
EurCad already broke upside this pin on daily
Pros and Cons appreciated.
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  • #92,617
  • Mar 31, 2011 12:09am Mar 31, 2011 12:09am
Quoting fx_rookie
EurCad already broke upside this pin on daily
Pros and Cons appreciated.
It didnt broke yet. Price needs to break the bar high, which in this case is 1.3760 on fxpro.
  • #92,618
  • Mar 31, 2011 12:11am Mar 31, 2011 12:11am
Quoting Ifmyante
I too like the EUR more, and it's the only one of the two that's been rejected from BRN.

Your FTA though, I think, is a little closer than you have marked. It doesn't look terribly strong, but it's there nonetheless

Edit: I'm already on a chf long trade, and that's enough for me for now
I know its there on 1h&4h but if you would enter below the pin then i asume the 1st fta would be where i draw it ... The trade didnt triger so no harm was done .
  • #92,619
  • Mar 31, 2011 12:16am Mar 31, 2011 12:16am
Quoting fx_rookie
EurCad already broke upside this pin on daily
Pros and Cons appreciated.
I'm in EUR/CAD and CAD/CHF.
EUR/CAD:
Pro:
- Nice looking PB (on my feed ...) on a good PPZ.
- At swing low on long up trend.
- Not much traffic
Con:
- Maybe not on a BRN

CAD/CHF:
Pro:
- Nice PB on a PPZ
- BRN
- Swing high
Cons:
- Very strong up swing

More inputs appreciated ...
  • #92,620
  • Mar 31, 2011 12:18am Mar 31, 2011 12:18am
Quoting Greenhaze
It didnt broke yet. Price needs to break the bar high, which in this case is 1.3760 on fxpro.
i took the screen shot a little earlier. On MT5 Alpari demo yesterday high is 1.37544 , when I post the price was already over this level, but I accept your opinion, and you are right that we should wait for 10 pips at least, so I will consider if we see 1.3765 for a break.
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